HeidelbergCement's Indian Ambitions: Adani Group's Acquisition Talks

HeidelbergCement India shares surged 18% amid talks of Adani Group acquiring its Indian operations, led by Ambuja Cements, in a deal worth around $1.2 billion. The acquisition would enhance Adani's cement sector interests and follows their acquisition of Holcim's stake in Ambuja Cements in 2022.

The shares of HeidelbergCement India saw an impressive surge of 18% during intra-day trading due to speculation regarding the Adani Group's intent to purchase its Indian operations. The potential acquisition is led by Ambuja Cements, a company under billionaire Gautam Adani's leadership, and is estimated to be valued at about USD 1.2 billion, equivalent to approximately Rs 10,000 crore.

HeidelbergCement's stock price hit a 52-week high of Rs 257.85 per share on the BSE, marking a 17.95% increase, while the NSE saw it reach Rs 258. This resulted in the company's market value skyrocketing by Rs 889.45 crore to a total of Rs 5,843.21 crore. In contrast, Ambuja Cements' shares dropped on both the NSE and BSE platforms, experiencing a decline of over 2%.

HeidelbergCement AG's journey in India began back in 2006 with strategic acquisitions, growing its installed capacity to 14 million tonnes and establishing a robust presence across 12 states under brands like Mycem and Zuari. The move aligns with Adani Group's broader strategy to consolidate their stakes in the cement sector, having entered the market by securing Holcim's Ambuja shares last year.

(With inputs from agencies.)